When it comes to Bitcoin, mining is difficult these days because mining with the home rig, also called traditional way of mining would take too much time to mine Bitcoin. People are starting to invest in cloud mining. How it works? Here is pretty simple explanation, people without much knowledge and skills, or anyone else is investing in other people mining farms, which are located somewhere where the cost of electricity is low.

Cloud mining have more than one advantages. There is no over heated mining rig in your house, no laud, no need for investing in hardware, no need for investing in repairs and so on. But of course there is always a negative side. Negative side of the cloud mining is that cloud mining could be a fraud. Beside fraud, bad management of mining farms can also be risky for the investors, there is always a possibility for losing all assets. Investing in ASIC can be profitable option. ASIC is hardware designed specially for the purpose of mining, but the negative side of this hardware is the price which is pretty high.

There are also cryptocurrencies beside Bitcoin that can be profitable. The cryptocurrency with the most potential is Ethereum. Ethereum could still be mined from home thanks to advanced blockchain technology, and also it is offering great service to its user. There is definitely bright future of the Ethereum, so investing in the Ethereum mining cloud can be a good long term investment.

Beside Ethereum and Bitcoin if you still want to mine, these are cryptocurrencies that are similar: Litecoin, Dogecoin, Zcash, Monero. They are pretty easy to mine, so you just need decide which one to mine, and you should be considering service that they provide to users, is it offering something new and useful to people and so on.